DAX Forecast: Index Pulls Back from 50-Day EMA Forex Stocks
at this point, but that pullback will more than likely be a welcome buying opportunity based upon value. The 200 day EMA should offer support, as it sits right about the bottom of the gap as well. In other words, I do think that a lot of people are going to be paying close attention to this market and looking for an opportunity to find bullish setups. I do think that the DAX will probably outperform most of Europe anyway, as it typically does.
If we can break above the 50 day EMA, then it is likely that we could go looking towards the €16,000 level, but there is a lot of noise between here and there. After that, then you are talking about the highs at the €16,250 level. On the other hand, if we were to turn around and break down below the 200 day EMA, it could open up fresh selling and a move down towards the €15,000 level. The €15,000 level is crucial for the longer-term trend, as it gives us so much support recently.
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